Missed the XRP Rally? Catch the Next Bullish Swing in these Altcoins
On July 14th, the crypto market witnessed a sudden surge in buying pressure which is linked to Ripple’s partial victory against the Securities and Exchange Commission (SEC) as the federal judge ruled that XRP is not a security in programmatic sales on digital asset exchanges. While the XRP price registered 73% growth several major cryptocurrencies felt the Ripple effect hopped on recovery tracks. Here’s how this positive sentiment could offer recovery opportunities in other altcoins.
Cardano(ADA) Price Analysis: Bullish Pattern in Progress
Amid the recent upsurge in the crypto market, the Cardano price continues with the development of a bullish reversal pattern known as the double bottom pattern. This chart pattern is typically observed at market bottoms and signifies active accumulation to lead to a strong recovery rally.
By the press time, the ADA price trades at $0.32, and under the influence of this pattern, the prices strive to overcome the $0.462 neckline resistance in order to fully validate and complete this pattern.
Solana (SOL) Price Analysis: Bullish Reversal Triggers Bullish Rally
The Solana price experienced a notable breakthrough on July 7th as it surpassed the resistance trendline of the symmetrical triangle pattern. This breakout serves as a pivotal indicator of a shift in market dynamics and implies the potential for a robust rally in the near future.
The SOL price is currently trading at $25.8 and struggling to surpass the $26.7 barrier as the market witnessed a post-rally correction. If the coin price shows sustainability above the nearest support of $22.6, the buyers could continue to bullish rally.
With sustained buying, the Solana price could rise to $38.76, followed by $50.5
Polygon(MATIC ) Price Analysis: Breakout Opportunity Shine
On July 10th, the MATIC price offered a decisive breakout from the long-coming resistance trendline. Aligned with the market recovery, this altcoin received significant follow-up, reflecting the buyer’s conviction to reach a higher price.
In theory, each swing that tested the downsloping trendline acted as a significant target. Currently, the polygon coin trades at $0.79, with an intraday loss of 6.3%.
If the buyers managed to hold above the $0.71 mark, the coin price could set an upward march to $0.947, followed by $1.19.